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By agronigeria, November 9, 2017
cbn 690x418The Central Bank of Nigeria (CBN) has formed strategic partnerships with agricultural commodity associations in the country with the goal of expanding the implementation of the Anchor Borrowers’ Programme (ABP).
Acting Director, Corporate Communications Department (CCD) of the apex bank, Isaac Okorafor, who disclosed this in Abuja, said the development would increase the achievements of the ABP and enable the programme accommodate more deserving small holder farmers across the country.
Okorafor noted that the strategic partnership was already yielding results, citing a scheme between the Rice Farmers Association of Nigeria (RIFAN) Anchor Borrowers’ Programme and the Bank of Agriculture (BOA) that would support 300,000 rice farmers from 20 States during the upcoming dry season.
He said an additional two million metric tonnes of paddy rice was expected to be produced under the RIFAN Anchor Borrowers’ Programme and that the strategic partnership with RIFAN was in line with the Federal Government’s quest to make Nigeria self-sufficient in rice production.
“The CBN is forming these partnerships to further ramp up domestic production of identified commodities by leveraging the existing organised structures of the agricultural associations nationwide, thereby providing huge economics of scale in the implementation of the programme,” he said.
The top CBN official advised all registered agricultural commodity associations to approach any of the Participating Financial Institutions (PFI) collaborating with the CBN in the implementation of the programme to benefit from the strategic partnership.
The apex bank disbursed about N45.5 billion through 13 Participating Financial Institutions to not less than 218,000 farmers cultivating nine commodities across 30 States.
https://agronigeria.com.ng/cbn-forms-partnerships-expand-anchor-borrowers-programme/

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